Land for the Many paid for by the few

houses of parliment
Jun 04 2019

Land for the Many paid for by the few

It seems Labour are really stepping up their tactics to secure votes, especially with Mrs May announcing her retirement.

Jeremy Corbyn and the Labour Party have commissioned an alleged independent report to look at the way land in the UK is used and governed, the report is named “Land for the Many”

Now do not get me wrong I am all for offering help and support for those that are willing to help themselves but why should all the hard working landlords of this fair country have to give up their land because they have worked hard and others have chosen a different path?

Will all the Politicians and Lords from all parties give up their land should this report become legislation. In realistic terms what is the likelihood of such a report ever being passed through the house of lords? When you look at the collective landholdings of politicians and lords why would they vote to give up land?graph of mps who are landlords

From what I have read and heard there are a few key fundamentals that they have asked the report to cover:

It is not news that the Labour party would like open ended tenancies. Tenancies should be open-ended, in addition they want landlords to be unable to lose their power to evict a tenant who has not broken the terms of the tenancy agreement for the first three years of the tenancy agreement and should have to provide grounds for eviction after that point.
Now from my experience, the majority of landlords who have great tenants do not want to evict them. The majority of the evictions we carry out are for non payment of rent or unsocial behaviour, which is a suitable grounds for eviction? If section 8 did not take so long then most would provide grounds for eviction, the main reason section 21 has become so popular is the speed of tenant eviction, but very rarely is it for no reason.

Cap on annual permissible rent increases, at no more than the rate of wage inflation or consumer price inflation (whichever is lower).
This shows you how out of touch with the real world the labour party is, if they really had their finger on the pulse they would know that rents are increased due to costs such as additional legislation.

Replace the council tax with a progressive property tax. This should be payable by owners, not tenants.
All this would do is increase rents prior to any legislation. Landlords would work out what the tax would be and pass it on. Most private landlords are investing in buy to let properties to provide for their families futures not to become rich property tycoons.

The report wants to consider stamp duty and wants to phase it out for people buying homes, and the short fall in tax replaced by additional capital gains tax for any additional properties.
I wonder who will end up paying the additional tax, the landlord or tenants?

 

Buy to Let mortgages should be more firmly regulated and restricted.
Because of course now absolutely anybody can go and obtain a buy to let mortgage.

Discourage land and housing from being treated as financial assets by encouraging banks to redirect lending into productive sectors, encourage a more efficient use of the existing housing stock.
We currently live in a capitalist society, so now they want the banks to make less money and not make a profit for their shareholders and staff? How do you encourage a bank to do something if there in no legislation to enforce it? Also, you do not have to obtain your mortgage from a UK bank. Are they going to encourage all the banks of the world?
Encourage a more efficient use of housing stock, are they going to build more houses? Currently those that can afford to buy a house do so, those than cannot rent from a nice landlord who has invested time and money in a spare property.

 

Click Here to download the full report.

We do need some form of change for this country to become the great nation it should be, however when you look deeper into the report and some of the references, it does not appear to be a balanced report with clear objectivity.more than one way to skin a landlordIt is quite clear to me that Labour have one way of looking at landlords and are anti landlord and pro tenant. Therefore, introducing measures to increase minimum tenancy agreements and impose no fault evictions and return the land to the people. They also appear to look upon landlords as cash cows and evil. The old tax the rich and give to the poor mentality, which is no way to have a balanced society. They miss the point that landlords are trying to provide for their  financial future for them and family. You would think they would encourage financial growth, stability and wealth in order to reduce the strain on the benefit system, NHS and pension pots.

What are your thoughts on this report, is it really worth worrying about?

8 Comments
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8 Comments
  • Gill R
    Reply

    There is a much bigger agenda going on than appears on the surface. This is the micro end of The United Nations agenda 21 and 30 being played out on the ground.
    Between the smooth words of ‘sustainable development’ etc,, their end game is extremely sinister.
    Ultimate control.and reducing all but the elites to virtually serf existence, working our butts off for tiny scraps.
    They are nibbling away with ridiculous excuses such as selective Licencing,late fines and 12 month restrictions for the new HMO licence for flat hallways, not letting us evict our nightmare tenants.
    They do not want us to be land owners.
    Only the big boys.
    Eventually no access to the countryside, trapped in smart cities. (That’s why they are so tight with planning permission) total surveillance with 5G.
    Actually, freehold is not ownership. The crown can snatch it away. We are merely borrowing it off of them even if we have paid outright for a property. During the war the military took over vast swathes of Uk, and didn’t pay any rent. We are in a very insecure position being bullied further and further.
    This is way beyond May, Corbyn and the rest of the puppets.

    7th June 2019 at 8:56 pm
  • Geoff Willing
    Reply

    I just hope landlords move over to holiday rentals and sell up so the Government can start building social housing to house the tenants they are clearly wishing landlords to displace.

    7th June 2019 at 10:16 pm
    • N L Gordon
      Reply

      The housing market relies heavily on private landlords. Without them, the local authorities couldn’t cope

      14th June 2019 at 10:26 pm
  • Amir
    Reply

    I think this report highlights the new labour policies of taxing hard workers, while helping those that are not willing to work. If they want to help get people off no hour contracts and into meaningful jobs and lay off Brexit which is just going to obliterate the economy short term at least

    8th June 2019 at 2:32 am
  • Michael Hopkinson
    Reply

    We all know what is fair and what is wrong. Just because someone has worked hard and invested their money in property rather than holidays, cars etc why should they be punished. Yes I am a landlord with several houses but not rich nor am I making loads. I have come to retirement and not wishing to be a burden on society this was to be my pension.

    All I can say is be realistic and be fair to all not the few!!

    8th June 2019 at 6:52 am
  • Last para I think you mean ABOLISH no fault evictions

    8th June 2019 at 9:37 pm
  • N L Gordon
    Reply

    Michael. All the landlords I have encountered invest for a secure financial future. Most dont expect to be multimillionaires, just to be comfortable and self sufficient

    14th June 2019 at 10:25 pm
  • Janice lewis
    Reply

    We have a few houses we rent out we will never be rich it keeps us from being a burden from the tax payers as we are tax payers as well. If we have to sell them our state pension will never pay for us to have a normal comfortable retirement so we will become burdens to the taxpayer. It is becoming very worrying and hard being landlords 27 years we have provided houses for tenants some have been homeless we do a good job some tenants have been bad but on the whole most are great and have been with us for years. All we want is to provide for our retirement and provide for our family it’s not a lot to ask in life. These Mps do not understand or live in the real world .

    29th September 2019 at 10:53 am

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